Wednesday, 23rd January 2008 (2684 views)

Cardero Resource has announced that drilling has commenced at its wholly-owned project at Incahuasi in north-west Argentina.

The programme will involve diamond drilling five holes to a total of 1,100 metres and is expected to be completed in by the end of February.

It follows positive results from earlier exploration at the site, where the average grade from 108 characterisation or grab samples was 4.3 g/t gold. In-situ veins returned values of up to 231 g/t gold.

Cardero says high-grade gold values of up to 300 g/t gold have been reported from quartz veins within the deposit.

The Incahuasi project is centred on the former Incahuasi Gold Mine and consists of seven minas and two cateos. It is located in Catamarca province, which borders Chile, where mining dates back to pre-Hispanic and Jesuit periods.

Modern mining started in the area in 1936 and at its height, was a 40-tonne a day operation exploiting high-grade quartz veins.

Cardero, which is based in Vancouver, British Columbia, was established in 1999 to develop under-explored mining opportunities in Argentina, Mexico and Peru.

 

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